118 STAT. 580 PUBLIC LAW 108–215—APR. 5, 2004 ‘‘(1) GENERAL RULE.—The requirements of subsection (a) shall not apply in cases where— ‘‘(A) the President determines there are exceptional economic circumstances for making the grant and consults with the Committee on Foreign Relations of the Senate and the Committee on Financial Services of the House of Representatives; or ‘‘(B)(i) the grant is being made for a project that is so small that obtaining a loan is impractical; and ‘‘(ii) the grant does not exceed $250,000. ‘‘(2) LIMITATION.—Not more than an aggregate of $5,000,000 in grants may be made under this subsection.’’. (c) CLERICAL AMENDMENT.—Section 1(b) of such public law is amended in the table of contents by inserting after the item relating to section 544 the following: ‘‘Sec. 545. Authority to agree to certain amendments to the Border Environment Cooperation Agreement. ‘‘Sec. 546. Grants out of paid in capital resources.’’. SEC. 2. ANNUAL REPORT. The Secretary of the Treasury shall submit annually to the Committee on Financial Services of the House of Representatives and the Committee on Foreign Relations of the Senate a written report on the North American Development Bank, which addresses the following issues: (1) The number and description of the projects that the North American Development Bank has approved. The descrip tion shall include the level of market rate loans, non market rate loans, and grants used in an approved project, and a description of whether an approved project is located within 100 kilometers of the international boundary between the United States and Mexico or within 300 kilometers of the international boundary between the United States and Mexico. (2) The number and description of the approved projects in which money has been dispersed. (3) The number and description of the projects which have been certified by the Border Environment Cooperation Commis sion, but yet not financed by the North American Development Bank, and the reasons that the projects have not yet been financed. (4) The total of the paid in capital, callable capital, and retained earnings of the North American Development Bank, and the uses of such amounts. (5) A description of any efforts and discussions between the United States and Mexican governments to expand the type of projects which the North American Development Bank finances beyond environmental projects. (6) A description of any efforts and discussions between the United States and Mexican governments to improve the effectiveness of the North American Development Bank. (7) The number and description of projects authorized under the Water Conservation Investment Fund of the North American Development Bank. 22 USC 290m–6. 19 USC 3301 note.
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